After Estimating Its Payroll for the Year,an Employer Usually Pays

question 88

Multiple Choice

After estimating its payroll for the year,an employer usually pays workers' compensation insurance

• A) at the beginning of the year.
• B) monthly.
• C) quarterly.
• D) at the end of the year.

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Definitions:

Unearned Revenue

This is income received by a business for goods or services yet to be delivered or performed. It's considered a liability until the product or service is delivered.

Cash Payment

A transaction in which a payment is made using physical currency or through a digital cash transfer rather than credit.

Deferred Tax Asset

An asset on a company's balance sheet that may be used to reduce future tax liability; it arises when a company has overpaid taxes or paid them in advance.

Wages Expense

An accounting term that refers to the total cost incurred by a company to pay its employees, recognized in the period employees perform the work.